The Flaherty & Crumrine Dynamic Preferred and Income Fund Inc. (DFP) is a U.S.-domiciled, closed-end, balanced mutual fund, actively managed by Flaherty & Crumrine Incorporated. Established on May 23, 2013, the fund pursues global investment opportunities, allocating capital across public equity and fixed income markets. Its equity holdings span a diverse range of companies and sectors. A core component of its strategy involves investing primarily in investment-grade, income-producing securities. These encompass a variety of instruments such as traditional preferred stock, trust preferred securities, hybrid securities combining characteristics of both equity and debt, convertible securities, subordinated debt, and senior debt.